Governor McAuliffe Announces 25 New Jobs in Tazewell County

~Tadano Mantis Corporation to invest $2.5 million in expansion~

RICHMOND - Governor Terry McAuliffe announced today that Tadano Mantis Corporation, a customized crane manufacturer, will invest $2.5 million to expand its manufacturing operation in the Town of Richlands in Tazewell County. Virginia successfully competed against Tennessee for the project, which will create 25 new jobs.

Speaking about today’s announcement, Governor McAuliffe said, “I am thrilled to announce this win for Tazewell County. Creating 21st century jobs in sectors like advanced manufacturing is critical for diversifying the industrial base and building a new Virginia economy, and we are proud that Tadano Mantis is a part of our efforts.”

“Tadano Mantis is an important employer in Tazewell County, and the creation of new jobs in a region that is working very hard to transform itself economically is great news,” said Maurice Jones, Virginia Secretary of Commerce and Trade. “We are grateful to the company for its continued investment in the Commonwealth and to the officials in Tazewell County and the region for their work on this project.”

Tadano Mantis Corporation, with U.S. headquarters in Franklin, Tennessee, develops and produces hydraulic telescopic-boom crawler cranes primarily for use in power transmission line erection, highway and bridge construction, railroads, and oil and energy pipelines. The company is owned by Tadano Ltd. in Japan. Tadano Ltd. (TSE: 6395) has reported sales of $1.814 billion and employs over 3,000 worldwide.

“We are very excited about our Richlands plant expansion,” said Shiro Morita, Tadano Mantis Corporation Chief Operating Officer. “We can hire more workers from local communities. We can have more suppliers and vendors locally, too. We are looking forward to seeing the completion of this expansion as soon as possible.”

The Virginia Economic Development Partnership worked with Tazewell County, the Tazewell County Industrial Development Authority, and the Virginia Coalfield Economic Development Authority to secure the project for the Commonwealth. Governor McAuliffe approved a $100,000 grant from the Governor’s Opportunity Fund to assist Tazewell County with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission also approved $140,000 in Tobacco Region Opportunity Funds. The company is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development. Additional funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.

“We are so excited to see expansion in our county,” stated Seth White, Chairman of the Tazewell County Board of Supervisors. “It is refreshing to see excitement from not only the employees and officials of Tadano Mantis, but also from the area as a whole.”

“The Tazewell County Industrial Development Authority is very excited for Tadano Mantis as they embark on an expansion that will bring more skilled jobs to our county,” said Doyle Rasnick, Chairman of the Tazewell County Industrial Development Authority. “They have a product that is not only being sold in the U.S., but also expanding throughout the world. Our Board has taken pleasure in working with them and helping them get to this point and will continue to work even more closely as they grow in the future.”

“Today's announcement is great news for our region, especially during a time when we have lost so many jobs,” said Delegate James W. (Will)Morefield,member of the Virginia Tobacco Indemnification and Community Revitalization Commission. “This is another example of how Virginia is leading the way in being an attractive state to do business in. The resources provided by the Virginia Tobacco Commission and the Governor's Opportunity Fund were instrumental in convincing Tadano-Mantis Corporation to stay and expand their operations in Richlands."

"The new investment by Tadano Mantis Corporation is a big step forward in bringing much-needed manufacturing jobs to Tazewell County,” said Senator A. Benton Chafin, Jr. “Manufacturing is a key factor to economic growth and helping the citizens of Southwest Virginia find new jobs."

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Since the beginning of the McAuliffe administration, 344 economic development deals have been closed in Virginia with more than $6.32 billion in capital investment, more than twice the amount of capital investment brought to the Commonwealth in any Governor's first 14 months in office.